#2 iMirror

Retail Success

Pieter Boekhoff's venture, Eymir, initially found success in the retail market, with a significant contract worth $450,000 from a retail client. This early traction included deploying five units across major locations like Seoul and the Mall of America, generating over 20,000 interactions in just eleven days 1. Despite this success, Pieter believes retail is not the ultimate destination for Eymir, as he aims to expand into the hotel industry 1. He acknowledges that the retail landscape is ripe for innovation, with increasing demand for digital concepts and futuristic store experiences 2.

The world of retail has started to... It's almost like we were two years too early, and now we're just right in the thick of this.

--- Pieter Boekhoff

Pieter's vision for Eymir involves leveraging this retail success to fuel growth in the hospitality sector.

   

Hotel Vision

Pieter envisions transforming the hotel industry with Eymir, aiming to create a personalized in-room experience for guests. He believes that hotels have not seen significant innovation since the 1950s and sees an opportunity to enhance guest services through interactive technology 3. His pitch for Eymir includes offering a concierge service directly through the mirror, utilizing guest data for a tailored experience 4. However, investors like Jillian Manus challenge Pieter to consider the broader implications of his technology, emphasizing the importance of capturing data before and after guest stays for hotel efficiency.

You can have the most incredible product, but if you don't know how to talk about it, you're going to have a problem accelerating it.

--- Jillian Manus

Pieter's challenge lies in effectively communicating the potential of his product to investors while addressing their concerns about market focus.

   

Investor Opinions

The investors expressed mixed opinions on Pieter's focus between retail and hotels, with many advocating for continued emphasis on retail due to its proven success. Jillian Manus and others highlighted the potential for higher profit margins and cross-selling opportunities in retail, urging Pieter to capitalize on this market 5. Despite this feedback, Pieter remained committed to his hotel vision, which led to a disconnect during his pitch 6. He later reflected on his approach, acknowledging that he might have misread the investors' interest and failed to adapt his pitch accordingly.

I think I had the wrong approach coming in as far as talking about this exciting portion of our business that I think we want to explore, which is the hospitality side.

--- Pieter Boekhoff

Ultimately, Pieter's experience underscores the importance of aligning one's pitch with investor expectations while remaining open to feedback.